The current domestic economic situation is getting murkier by the day. Experts feel that this slowdown is unprecedented and Indian economy is in its worst pace of growth in recent years.
As per Niti Aayog’s Vice Chairman Rajiv Kumar, India has never faced such lack of liquidity in the last 70 years. He said that the government and RBI have taken necessary action in the recent past which has stabilized the situation a bit.
He also stressed that measures are in place to deal with the financial stress and infuse positivity in the market and will be actioned upon when the situation demands. As per him, this situation was triggered by default in the group companies of IL&FS.